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TX SB1498

Bill

Status

Passed

6/20/2025

Primary Sponsor

Robert Nichols

Click for details

Origin

Senate

89th Legislature Regular Session

AI Summary

  • Expands Texas civil asset forfeiture law to explicitly include digital currency, non-fungible tokens (NFTs), and stablecoins as property subject to seizure as contraband when used in or gained from criminal activity

  • Defines "digital currency" as a digital representation of value recorded on a cryptographically secured distributed ledger, including blockchain technology

  • Requires law enforcement to transfer seized digital assets within 72 hours to an offline wallet accessible only by the law enforcement agency or prosecuting attorney

  • Establishes venue for forfeiture proceedings involving digital assets in the county where the seizing law enforcement agency is located, or in Travis County

  • Specifies that "proceeds" from digital currency crimes include any increase in value between the acquisition date and forfeiture date, making appreciation subject to forfeiture

Legislative Description

Relating to civil asset forfeiture of digital currency or other similar property.

Financial

Last Action

Effective on 9/1/25

6/20/2025

Committee Referrals

Criminal Jurisprudence4/9/2025
Criminal Justice3/6/2025

Full Bill Text

No bill text available